Wednesday
April 16, 2014

Homework Help: Statistics

Posted by Katie on Saturday, May 25, 2013 at 11:22pm.

Using advertised prices for used Ford Escorts a linear model for the relationship between a car's age and its price is found. The correlation coefficient is - 0.933

Determine R2 and interpret this statistic.
A) R2 = 93.3% which means that 93.3% of the variation in car price is explained by the age of the car.
B) R2 = 87.1% which means that 87.1% of the variation in car price is explained by the age of the car.
C) R2 = 93.3% which means that 93.3% of the variation in the age of the car is explained by the price of the car.
D) R2 = 87.1% which means that 87.1% of the variation in the age of the car is explained by the price of the car.
E) None of these are correct.

Is the answer C?

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